Minority In Parliament Demand New Budget Statement To Address Current Economic Challenges

The Minority in Parliament has spelt doom for the country should the Minister of Finance not come to Parliament with a new budget to address the current state of the economy.

In an interaction with the media, the Ranking Member on the Finance Committee Dr. Anthony Akoto Osei said the fiscal consolidation efforts detailed in last year’s budget were not realized.

He said this accounted for a budget deficit of about 11 percent of GDP. He said the Bank of Ghana’s new directive on foreign currency accounts will discourage saving with the banks. He said as things stand, the only way for government to meet its targets for the year is to come to Parliament with a new budget

The Minority Leader Osei Kyei Mensah Bonsu said the Central Bank should desist from reintroducing exchange controls since foreign exchange controls have never worked in the country.

He called on the President to take a cue from the economy of countries in the sub region.